CALGARY, AB, Sept. 29, 2021 /CNW/ - ATCO Ltd. (TSX: ACO.X)
(TSX: ACO.Y) / Canadian Utilities Limited (TSX: CU) (TSX:
CU.X)
The ATCO Group, through its investment in Canadian Utilities
Limited, today announced that it has acquired the rights to build
two solar installations in Calgary
aimed at providing clean, renewable energy to Alberta's power grid and supporting the
transition to lower-carbon energy. Once completed, the Barlow and
Deerfoot solar projects will be the largest solar installation in a
major urban centre in Western
Canada, at 27 and 37 megawatts respectively. This
announcement follows ATCO's recent acquisition of a solar project
near Empress in eastern
Alberta and the completion of two
solar projects in Canada's North.
"The acquisition of three major solar projects shows how
important we believe it is to provide customers with the
opportunity to decarbonize their energy consumption," said
Bob Myles, Executive Vice President,
Corporate Development, ATCO. "Whether it's the far North or an
urban centre, ATCO is delivering on our strategy to help
communities accelerate their transition to clean energy in a safe,
affordable and reliable manner. These solar projects are also prime
examples of the kinds of opportunities we'll continue to pursue as
we grow our renewables portfolio moving forward."
The installations' combined 175,000 bifacial solar panels,
covering the equivalent of roughly 170 (Canadian) football fields,
will generate enough renewable electricity to power more than
18,000 homes and offset 68,000 tonnes of carbon a year.
Through Canadian Utilities Limited, ATCO acquired the two
Calgary solar projects from DP
Energy, a privately held energy developer. Electricity from the
projects will be sold into the Alberta power market, and ATCO is currently
negotiating with potential customers to contract the facilities'
output.
The Deerfoot project, near 114 Avenue and 52 Street SE, is
completing the permitting phase. The Barlow project, near Barlow
Trail and 114 Avenue SE, has received its major permits and project
execution is underway. Construction for both projects is expected
to occur during 2022, with commercial operations targeted for Q4
2022.
In addition to Empress, the
Deerfoot and Barlow projects are part of ATCO Group's growing
renewable portfolio in Canada,
Mexico, Chile and Australia, and leverage our solar expertise
from recently completed projects such as Fort Chipewyan, Alberta, and Old Crow, Yukon.
ATCO's Commitment to Sustainability
For ATCO,
sustainability is more than an aspiration; it is interwoven into
our strategy, our day-to-day operations, the products and services
we provide, and the fabric of our people. It manifests across our
family of companies in countless ways, both in how we conduct our
day-to-day activities and in the contributions we make to society
through both our operations and the community spirit of our people.
Our enduring and holistic commitment is clearly reflected in our
efforts to cost-effectively and reliably accelerate the energy
transition; enhance our environmental performance and reduce
our greenhouse gas emissions; champion the safety,
inclusivity, and equity of our people, communities, and
customers; foster Indigenous and community partnerships
based on trust, equity and mutual respect; and ensure
uninterrupted, resilient, and reliable access to essential
products and services—anytime, anywhere.
With approximately 6,200 employees and assets of $22 billion, ATCO is a diversified global
corporation with investments in the essential services of
Structures & Logistics (workforce and residential housing,
innovative modular facilities, construction, site support services,
workforce lodging services, facility operations and maintenance,
defence operations services, and disaster and emergency management
services); Utilities (electricity and natural gas transmission and
distribution, and international electricity operations); Energy
Infrastructure (electricity generation, energy storage and
industrial water solutions); Retail Energy (electricity and natural
gas retail sales); Transportation (ports and transportation
logistics); and Commercial Real Estate. More information can be
found at www.ATCO.com.
Investor & Analyst Inquiries:
Colin Jackson
Senior Vice President, Finance, Treasury, Risk &
Sustainability
Colin.Jackson@atco.com
(403) 808 2636
Media Inquiries:
Kurt Kadatz
Senior Manager, Corporate Communications
Kurt.Kadatz@atco.com
(587) 228 4571
Forward-Looking Information:
Certain
statements contained in this news release may constitute
forward-looking information. Forward-looking information is often,
but not always, identified by the use of words such as
"anticipate", "plan", "estimate", "expect", "may", "will",
"intend", "should", and similar expressions.
Forward-looking information involves known and unknown risks,
uncertainties and other factors that may cause actual results or
events to differ materially from those anticipated in such
forward-looking information.
The Company's actual results could differ materially from
those anticipated in this forward-looking information as a result
of regulatory decisions, competitive factors in the industries in
which the Company operates, prevailing economic conditions
(including as may be affected by the COVID-19 pandemic), and other
factors, many of which are beyond the control of the
Company.
The Company believes that the expectations reflected in the
forward-looking information are reasonable, but no assurance can be
given that these expectations will prove to be correct and such
forward-looking information should not be unduly relied
upon.
Any forward-looking information contained in this news
release represents the Company's expectations as of the date
hereof, and is subject to change after such date. The Company
disclaims any intention or obligation to update or revise any
forward-looking information whether as a result of new information,
future events or otherwise, except as required by applicable
securities legislation.
SOURCE ATCO Ltd.